Scandi Standard AB said its first-quarter normalized net income amounted to 56 Swedish öre per share, compared with the S&P Capital IQ consensus estimate of 70 öre per share.

EPS increased 28.5% year over year from 44 öre.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 33.8 million kronor, an increase of 54.1% from 21.9 million kronor in the year-earlier period.

The normalized profit margin rose to 2.6% from 1.6% in the year-earlier period.

Total revenue declined year over year to 1.31 billion kronor from 1.35 billion kronor, and total operating expenses fell from the prior-year period to 1.24 billion kronor from 1.28 billion kronor.

Reported net income rose 42.0% year over year to 41.6 million kronor, or 69 öre per share, from 29.3 million kronor, or 59 öre per share.

As of May 29, US$1 was equivalent to 8.54 Swedish kronor.